Nevada Exploration Inc. Stock Forecast
Weaker technical forecast for Nevada Exploration Inc. as stock downgraded to Hold/Accumulate.
(Updated on Jun 21, 2024)
No changes to the price of Nevada Exploration Inc. stock on the last trading day (Friday, 21st Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.175 to a day high of $0.175. The price has been going up and down for this period, and there has been a 45.83% gain for the last 2 weeks.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 80.68% during the next 3 months and, with a 90% probability hold a price between $0.265 and $0.380 at the end of this 3-month period.
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NVDEF Signals & Forecast
The Nevada Exploration Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.168 and $0.116. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Nevada Exploration Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.26%
Our recommended stop-loss: $0.166 (-5.42%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (NVDEF) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Nevada Exploration Inc. to open at $0.175, and during the day (based on 14 day Average True Range), to move between $0.165 and $0.185, which gives a possible trading interval of +/-$0.0099 (+/-5.68%) up or down from last closing price. If Nevada Exploration Inc. takes out the full calculated possible swing range there will be an estimated 11.36% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.200, some $0.0250 (14.29%) from the current price of $0.175, our system finds the risk reward not very attractive.
Is Nevada Exploration Inc. stock A Buy?
Nevada Exploration Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Nevada Exploration Inc. of Monday, June 24, 2024
Fair opening price June 24, 2024 | Current price |
---|---|
$0.175 ( 0.00000000%) | $0.175 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVDEF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.175 | 0.00000000% |
R2 | 0.175 | 0.00000000% |
R1 | 0.175 | 0.00000000% |
Price | 0.175 | |
S1 | 0.175 | 0.00000000% |
S2 | 0.175 | 0.00000000% |
S3 | 0.175 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0.200 | 14.29% |
Price | 0.175 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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